While Dave6666's method is crude...
Sugar coating is for date night.
But, um, I'm not trying to score here.
So yes, when it appears that someone has flunked open the hood and name the basic parts 101, while they declare paint bubbling on the engine and funny smells, I waste no time advising a professional eye. And if this offends anyone, I still drink to my own glee in the end.
Back on subject, and these questions do not take a master mechanic to answer.
-> Was this smell all of a sudden? Or is this the first time you've done WOT? I know that sounds smartass, but some people granny these things until one day they get a wild hair.
-> Was the smell like burning paint kinda smell, or like a noxious or rotten egg kind of smell? Paints smell like plastic when they burn (sort of) and my exhaust smell that I used to have would make your eyes water.
-> Is there any discoloration at the bubbled paint areas? And where on whatever parts are these spots? Front, back, top, side...
-> Do you have aftermarket headers?
-> Do you have heat shields on whatever headers you have?
-> What cats do you have?